MLB Players Scammed In Crypto Ponzi Scheme

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John Michael Caruso, known as “Kryp+0 K!ng,” is the self proclaimed Michael Jordan of crypto trading. According to a complaint filed in Arizona’s federal court, Caruso is being accused of scamming former MLB players and more than 100 other people out of more than $7.5 million over an 18 month period. He has been apprehended.

Caruso is the co-founder of a blockchain and crypto investment firm called Zima Digital Assets, which claims to make “calculated trades using tested principles and algorithms” to generate wealth for investors. The other co-founder is Zachary Salter, who has also been apprehended, has a side hustle as an R&B singer with an album on Spotify. 

Court records did not identify any MLB players directly, but said that many MLB players and their families were among the victims. Other victims appear to be senior citizens who were schemed out of hundreds of thousands of their retirement dollars.

Investigators believe that the $7.5 million is just the tip of the iceberg and conclude that there is no evidence of any investing. Instead, Caruso used the funds to accumulate a garage full of luxury vehicles including a Lamborghini, a Rolls Royce, a Ferrari, and an Aston Martin. He’s also said to have been living a lavish lifestyle, traveling to places like London, Hawaii, Cabo San Lucas via private jet. All of this activity was done on a reported 2018 income of $22,800.

Salter, who reported no income in 2018, also has a small fleet that includes a Mercedes, a BWM, an Audi, and a 1957 Chevy.

The pair flaunted their riches via online profiles on Instagram as a means of luring new investors to their crypto-currency scheme. Instagram reportedly removed their pages from social media once these accusations were made public.

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